Apple, the world’s most valuable company, sells just one phone, the iPhone. The Cupertino, Calif., company emphasizes design and profitability over sales. It also invests heavily in its consumer brand and its tightly controlled retail stores, and it benefits from a strong ecosystem of software and apps.

Meanwhile, Samsung, the world’s largest tech company by revenue last year, goes for scale. The South Korean company is a fast-follower that places its bets broadly, creating multiple versions of myriad products such as its Galaxy smartphones to suit partners’ needs. It maximizes profits by controlling its own manufacturing